Item 3. Legal Proceedings
Item
3. Legal Proceedings
From
time to time, we are involved in lawsuits, claims, investigations, and proceedings, including pending opposition proceedings involving
patents that arise in the ordinary course of business.
On
January 29, 2025, the Company was named as a defendant in an action brought by LifeSci Capital LLC (“LifeSci”) in the U.S.
District Court for the Southern District of New York. The complaint alleges that the Company failed to pay $503,483 in connection with
offerings of the Company’s common stock that occurred during the tail period of the agreement, pursuant to an engagement under
which the Company retained LifeSci to serve as its placement agent and financial advisor.
The
Company filed its answer on March 17, 2025, denying the material allegations in the complaint and asserting various affirmative
defenses. On October 9, 2025 the matter was settled out of court and the Company agreed to pay Lifesci $75,000 to settle the
outstanding claim, which was paid in October 2025.
The results of any future litigation cannot be predicted with certainty,
and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management
resources, and other factors.
Item
4. Mine Safety Disclosures
Not
applicable.
21
PART
II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.